Complaint Review: Merchants Credit Guide - Chicago Illinois

Lori, the SOL is dependent upon the what you owe for. Car loan, credit card, bad check, line of credit, etc. One thing to mention...Ohio is now ruling pretty systematically that credit cards are based upon a written contract, which would give the creditor up to 15 years to file a lawsuit against you.

I looked on FTC website, and here is what was listed as the SOL for Ohio: Ohio Statutes of Limitation Written or oral account: 6 years, (O.R.C. 2305.07). Written contract: 15 years, (O.R.C. 2305.06). Oral contract: 6 years (O.R.C. 2305.07). Note payable at a definite time: 6 years, (O.R.C. 1303 .16(A)); (2)). Demand note: 6 years after the date on which demand is made or 10 years if no demand is made and neither principal nor interest has been paid over that time (O.R.C. 1303.16(B)). Dishonored check or draft: 3 years after dishonor, (O.R.C. 1303.16 (C)). I am confused. How do I know what date to go by?

She said she recieved a letter stating her friend owed the money.. She should have said she intercepted the letter! It really doesn't matter..MCG violates on every other contact so just count this one towards the next call. There..Were even now. ps..go back to your cubicle.

Steve, MCG has NOT broken the law as of yet, no matter how much you wish it on them. Read the OP's post AGAIN. First, MCG SENT A LETTER TO THE DEBTOR and it was itercepted and opened by the OP who deals with her affairs. It is NOT MCG's fault that the OP opened it. Second, the OP CALLED MCG to discuss the letter he opened. Then the OP said specifically that MCG WOULD NOT TALK TO HIM WITHOUT PROVING THAT HE WAS THE DEBTOR - they even hung up on him. They actually did the correct thing to cover their proverbial *&*&, so there's nothing to sue them over yet. (But you probably won't have to wait too long for them to violate the law, Marv).

Heather...They already violated the FDCPA.. As soon as they told the OP that her friend owed $5000 to a finance company they violated the law. When a collector calls anyone, it is illegal to disclose that they are debt collectors or any details about the debt until they have verified who they are speaking to. They already broke the law. In order to have been totally legal, they should have called and asked for the debtor by name. As soon as they were told that is not who they were speaking to, the ONLY information they can leave is a name and a phone#. That's it!

Marv, Merchants Credit Guide is a "debt buyer" and they have apparantly purchased a debt that they BELIEVE to be your friend's. There is no telling how old this debt is or if it is even truly hers. The only way to find out is to make them show you the proof. (BTW...it's not illegal to TRY and collect on a really old debt just as long as they don't threaten to take legal or credit reporting action that can't legally be taken - or unless you ask them to stop.) Merchants actually did the RIGHT THING (for once) in refusing to talk to you over the telephone - otherwise they could have been found guilty of violating the FDCPA for communicating about the debt with someone other than the consumer. In order to get this cleared up, you are going to have to write Merchants in a an official capacity as your friend's guardian/power of attorney (you'll have to send court-documented proof that you run her estate). Then dispute the debt and demand validation. Wait for them to send it to you. If they never send it to you and never contact her/you again, then no law has been broken. However, if they try to attempt collection again (including posting anything to a credit report), then they are in deep doo-doo and you could sue them if you wished.

Wow. I can't believe the Statute of limitations are so different. In CA it is 4 years..ohio is 15? That doesn't make sense. But never the less, given the SOL is 15, please do as the smart people above have suggested and send your request for validation of the debt letter as soon as possible (within 30 days of receiving Merchants' letter), certified, etc. But I suggest first read up on far debt collection, articles in the Federal Trade commission website on debt collections, articles in your states attorneys website on debt collections and know your rights. Then make sure the amount is not too far from the original debt. By law, they can't add too many fees, etc unless the original contract allowed them too. Just be careful. And remember if you make a payment, the SOL will start all over. SO cehck, check, check and document, document, document. And don't talk to these fools on the phone. Let them babbly on your answering machine. (((ROR REDACTED LINK FOR SECURITY PURPOSES))) has some good letter templates to help you and you can check your statute of limitations as 15 years there two I believe. I think the FTC needs to review this strange SOL differences across the US. I wonder why they are so different. Oh well... CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. Good luck!

Mary, Don gave you good information on the 15 year statute of limitations in OH. HOWEVER..... They still need to VALIDATE the debt. And MCG very rarely files a lawsuit as they know most of the debts they buy are not legally collectable. IMMEDIATELY send a DEBT VALIDATION letter to MCG CO. Clearly specify that you dispute the debt, and DEMAND to see whatever was signed to create the debt as well as an account history. Also DEMAND proof that they own the debt such as a purchase contract, and/or the cancelled check showing they paid for it. Send this letter by certified mail, return reciept requested, and be sure to put the certified# on the letter itself. Keep a copy for your records. Now go to FTC.gov and file a complaint online with the FTC for the violations of your rights under the FDCPA and the illegal collections practices. Good luck. Have fun!

One quick thing to keep in mind. In Ohio, the statute of limitations is 15 years. Just meaning if it is a valid debt, there is the possibility of a lawsuit. They should have definately provided the account number and any other account information as well though. Rather than jumping to the conclusion that it is a Scam, request validation of the debt first.